In the Asia Pacific region, the use of alternative fuels became more prominent in 2024. There was an increase in biofuels blending mandate almost across the region.

In 2024, key updates regarding the European Union include increased biofuel blending, emphasis on synthetic renewable fuels (RFNBOs), widespread use of E10 gasoline, renewable diesel blending, and support for electric mobility, moving toward phasing out traditional fuels by 2035.

In 2024, there were no major changes in the fuel markets of the Eurasian countries compared to 2023 and 2022. All attention was focused on conventional fuels, the development of alternative fuels is moving slowly.

The focus of the African fuel market was mainly to invest in the infrastructure of fossil-derived fuels for security of supply and increasing demand in 2024. Similarly, a push for low-sulfur fuel specifications was implemented in some countries. Regarding hydrogen plans, several countries announced ambitious targets to produce hydrogen and hydrogen-derived fuels for local consumption but also for export, mainly to Europe.

In Latin America, biofuels markets were reinforced in 2024 compared to previous years while EV charging infrastructure and EV sales and market shares showed significant progress.

In 2024, the biofuels market in North America demonstrated notable growth, driven by increased policy support in both the U.S. and Canada. Bioethanol production expanded in both countries, with the U.S. maintaining its position as a top global producer, supported by advanced biofuel credits and renewable fuel standards. Biodiesel and renewable diesel experienced significant adoption, particularly in the U.S., where state-level mandates in California and Oregon played a crucial role in boosting demand. Additionally, the U.S. saw growing interest in sustainable aviation fuel (SAF), with federal incentives driving new investments in the sector.